THE SCENARIO
I've recently written about offers I get from time to time that offer me 15-year mortgages and compare them to 30-year ones. They rightly claim that I can
save thousands over the life of the loan, but I've maintained that I prefer the longer term and lower required payment of longer loans, and demonstrated that I can pay them off
nearly as quickly as the shorter loans if I choose to do so. I've also said that though I'm free to pay down such loans more quickly, I generally would not do that when the interest rate on the loan is low.
The primary reason for this is that once I've sent a dollar to the bank to pay down...
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